Posted: 03.02.2018

Welcome to our blog!

Last week we explored pricing strategies within the product/service lifecycle. This week, let's take a look at strategies around the 3rd "P" of marketing: "Place".

Place is another all-encompassing term referring to the location and physical characteristics that make it possible, easy, or difficult for your audience to use your products or services. If evaluated correctly, "place" will help a marketer best position their product or service:

#1. What is the distribution network of the product, or coverage if a service?

#2. How easy or difficult is it to find your business online/in the real world?

#3. If a brick-and-mortar business, how is the in-store experience?

#4. If an online-only business, how is the user interface / navigation

#5. How is customer "mind-share" regarding the product/service? Is the marketing message touching the audience at the right time?

These five questions can all roll-up into one: "Am I POSITIONED correctly to maximize my product/service in the marketplace?"

Looking for an example in real life? Look to your nearest grocery store. Retailers have been "meal-solution-selling" for years, but understanding WHY it provides a sales lift allows the smart marketer to make similar business-building moves.